ArabFinance: Egypt’s Information Technology Industry Development Agency (ITIDA) and Chinese electronics manufacturer OPPO signed a memorandum of understanding (MoU) to build a mobile phone manufacturing plant in Egypt with around $20 million in investments, according to an official statement on September 13th.
Under the protocol, the new plant will be built with an annual capacity of 4.5 million units and will receive new investments depending on the market conditions, OPPO’s representative commented.
He added that the project will create 900 jobs in the next three to five years.
For his part, the Minister of Communication and Information Technology Amr Talaat stated that his ministry would oversee the project through ITIDA.
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